Michael Saylor Urges Investors to Buy Bitcoin, Says “You’d Wish You Had Bought More”

MicroStrategy chairman Michael Saylor recently reiterated his bullish stance on Bitcoin despite ongoing criticism from long-term skeptics.

In a recent statement to his 3.5 million followers on X, Saylor emphasized that Bitcoin’s future potential remains substantial, stating, “You are going to wish you had bought more Bitcoin.”

The statement suggests that in the future when prices are much higher than now, and Bitcoin becomes more scarce, investors will regret not buying more than they hold. Saylor expressed this perspective amid Bitcoin’s recent 11% surge, placing it within its July highs.

MicroStrategy’s Bitcoin Purchases

MicroStrategy, led by Saylor, known for adopting a Bitcoin-centric strategy in 2020, has steadily increased its holdings. Since its first major purchase of 21,454 Bitcoins in 2020, the company has shown no signs of slowing down. Its most recent acquisitions pushed the company’s total to 252,220 Bitcoins.

The company’s latest purchases occurred in mid-September when MicroStrategy purchased 18,300 BTC tokens for $1.11 billion. A week later, an additional $458.2 million purchase of 7,420 Bitcoins brought the total to 252,220.

Peter Schiff Continues to Criticize MicroStrategy

The company’s strategy has drawn attention from supporters and critics alike. For instance, amid Saylor’s call urging investors to buy more of the crypto, long-time critic Peter Schiff stepped in to challenge the enthusiasm.

In a direct response to Saylor, Schiff remarked, “You are going to wish you had sold more of yours.” Schiff underscores his belief that Bitcoin will continue to remain a worthless asset class.

You are going to wish you had sold more of yours.

— Peter Schiff (@PeterSchiff) October 18, 2024

Schiff’s critical stance is not new. In August, he questioned whether MicroStrategy’s Bitcoin-focused strategy would lead to significant losses in the future, challenging Saylor’s notion that Bitcoin has empowered the company. Schiff argues that while MicroStrategy may have benefited in the short term, the long-term risks remain high.

Saylor’s Response to Critics 

In a recent interview with Madison Reidy, Michael Saylor addressed skeptics head-on. He encouraged those who doubt Bitcoin’s future potential to short the company’s stock if they feel strongly against it. 

Saylor emphasized that the company remains “leveraged long on Bitcoin” and assured market participants that MicroStrategy will not sell its holdings.